GhIPSS - GHANA AUTOMATED CLEARING HOUSE

ACH DIRECT DEBIT

This is a simple, secure and reliable service that enables individuals; large and small organisations COLLECT funds from bank accounts. A Direct Debit is an instruction from a creditor to its bank authorizing it to collect an agreed amount(s) from the bank account of the creditor´s customer so long as the customer has signed a Mandate and has been given advance notice of the collection amount and date.

Direct Debits are debit pull instruments used for recurring payments such as mortgages, utility bills, insurance premiums, loan re-payments, rent, subscription based service payments etc.

BENEFITS OF ACH DIRECT DEBIT
  • Assurance of payment
  • Excellent cash flow benefits from receiving regular payments
  • Low cost of administration compared with requesting consumer-initiated payments.
  • Improved control over payment timing
  • Reduced time spent chasing unpaid or delinquent accounts
  • Better accounting efficiency
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